Plaintiffs' filed their amended complaint today in Braman et. al v. The CME Group, Inc.
The case is important because the United States derivatives markets have been the envy of the world and the global hub for derivatives trading, price discovery and risk transfer. The amended complaint draws specific focus on the existence of clandestine contracts between the futures exchanges and their favored HFT firms along with their allowance of illegal trading practices like wash trades. The futures exchanges have not, as the complaint alleges, been forthcoming about the existence of an exploitable structural advantage that it provides to favored HFTs at the expense of all other market participants, financial institutions and the trading public.
Plaintiffs' attorney R. Tamara de Silva is privileged and honored to have as new co-lead counsel in this case, Victor E. Stewart from the firm of Lovell Stewart Halebian Jacobsen. Lovell Stewart is the premier commodity class action law firm in the nation with a record of verdicts and judgments in commodities-manipulations and price-fixing lawsuits that is without equal.